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It now dawns on me that we can stimulate massive investment and efficiency gains in any domain we want, if only we create a crypto on that domain. E.g. Food. C

It now dawns on me that we can stimulate massive investment and efficiency gains in any domain we want, if only we create a crypto on that domain. E.g. Food. Create a new proof-of-food based crypto. Poof! Literally solved world hunger right there.

TheDong 4y ago
I think this might be the survivorship bias talking. The vast majority, like 99%+, of all crypto projects fail. Anyway, so far there's: Foodcoin (https://coinmarketcap.com/currencies/food/ https://coinmarketcap.com/currencies/food/), TE-Food (https://coinmarketcap.com/currencies/te-food/ https://coinmarketcap.com/currencies/te-food/), and probably a dozen other scams. Let me give you an analogy to what you said "After seeing that Google and Apple have market caps of a trillion dollars, it dawns on me that we can stimulate massive investment and efficiency just by making a publicly traded company focused on that thing. If we make a food-based public company, poof, world hunger solved". Just because bitcoin has a huge amount of money in it does not mean all cryptos will succeed. Just because google has a trillion dollar market cap does not mean every publicly listed company will.
- mdavis6890 4y ago
  I don't think your examples are quite what I was talking about. I was talking about where the coins are mined based on how much food you are growing or have harvested. A bit like Chia Coin, but instead of rewards based on disk space, it would be harvested food or something like that. Like with each bushel of corn you harvest there's a random chance you get a FoodCoin. And secondly I was joking, but clearly my attempt at humor failed as I also got at least one downvote.
  - TheDong 4y ago
    I was pretty sure it was a joke, but the manic enthusiasm for the impractical that I've seen the crypto ecosystem makes it hard to be certain sometimes. I look forward to the government-issued "Agriculture-coin" issued to farmers that show they grow a certain amount and follow certain standards: https://en.wikipedia.org/wiki/Agricultural_subsidy#United_States https://en.wikipedia.org/wiki/Agricultural_subsidy#United_St...

TheDong 4y ago

I think this might be the survivorship bias talking. The vast majority, like 99%+, of all crypto projects fail. Anyway, so far there's: Foodcoin (https://coinmarketcap.com/currencies/food/ https://coinmarketcap.com/currencies/food/), TE-Food (https://coinmarketcap.com/currencies/te-food/ https://coinmarketcap.com/currencies/te-food/), and probably a dozen other scams. Let me give you an analogy to what you said "After seeing that Google and Apple have market caps of a trillion dollars, it dawns on me that we can stimulate massive investment and efficiency just by making a publicly traded company focused on that thing. If we make a food-based public company, poof, world hunger solved". Just because bitcoin has a huge amount of money in it does not mean all cryptos will succeed. Just because google has a trillion dollar market cap does not mean every publicly listed company will.

mdavis6890 4y ago
I don't think your examples are quite what I was talking about. I was talking about where the coins are mined based on how much food you are growing or have harvested. A bit like Chia Coin, but instead of rewards based on disk space, it would be harvested food or something like that. Like with each bushel of corn you harvest there's a random chance you get a FoodCoin. And secondly I was joking, but clearly my attempt at humor failed as I also got at least one downvote.
- TheDong 4y ago
  I was pretty sure it was a joke, but the manic enthusiasm for the impractical that I've seen the crypto ecosystem makes it hard to be certain sometimes. I look forward to the government-issued "Agriculture-coin" issued to farmers that show they grow a certain amount and follow certain standards: https://en.wikipedia.org/wiki/Agricultural_subsidy#United_States https://en.wikipedia.org/wiki/Agricultural_subsidy#United_St...